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SPX: 3Q Earnings Snapshot

·1 min read

CHARLOTTE, N.C. (AP) _ SPX Corp. (SPXC) on Thursday reported third-quarter earnings of $22.8 million.

The Charlotte, North Carolina-based company said it had profit of 50 cents per share. Earnings, adjusted for one-time gains and costs, were 64 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The infrastructure equipment supplier posted revenue of $363.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $358 million.

SPX shares have fallen 12% since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPXC at https://www.zacks.com/ap/SPXC